Sale Agreement (Rs.20 Stamp Paper):
The sale agreement is a legally binding contract between the buyer and seller of a property outlining the terms and conditions of the sale. It typically includes details such as the purchase price, payment terms, property description, and any other specific agreements between the parties. The sale agreement serves as a preliminary document before the sale deed is executed and provides legal protection to both parties by establishing their respective rights and obligations. In many jurisdictions, the sale agreement must be executed on a stamp paper of requisite value to make it legally enforceable.
Sale Deed:
The sale deed, also known as the conveyance deed, is a legal document that transfers ownership of a property from the seller to the buyer. It contains details such as the names of the parties involved, the description of the property being sold, the sale consideration, and any other terms and conditions agreed upon between the parties. The sale deed is executed after the completion of the sale transaction and is registered with the relevant government authority, such as the sub-registrar’s office, to make the transfer of ownership legally valid and binding.
Parent Documents:
Parent documents refer to any previous documents related to the property, such as previous sale deeds, title deeds, land records, or any other legal papers that establish the property’s ownership history. Reviewing parent documents is essential for verifying the property’s ownership chain, identifying any encumbrances or legal issues, and ensuring a clear title before purchasing the property. Understanding the property’s background through parent documents helps buyers make informed decisions and avoid potential legal disputes in the future.
House Tax (Latest):
House tax, also known as property tax, is a recurring tax levied by the local municipal authority on property owners based on the assessed value of their properties. The tax revenue is used to fund various municipal services and infrastructure projects, such as roads, sanitation, and public utilities. Before purchasing a property, buyers should verify that the seller has paid all outstanding house taxes up to the latest assessment period to avoid any liabilities transferring to them upon acquiring the property. Obtaining the latest house tax receipt provides assurance that the property’s tax obligations are up to date.
Plan Approval:
Plan approval refers to the process by which the construction plans for a property are reviewed and approved by the local government authority or municipality. The approval ensures that the proposed construction complies with relevant building codes, zoning regulations, and other legal requirements. Before purchasing a property, buyers should verify that the construction plans have been approved by the appropriate authority to avoid any future legal issues or complications. Ensuring plan approval also provides assurance that the property has been constructed according to specified standards and is safe for occupancy.
E.C. 1987 to till date:
An Encumbrance Certificate (E.C.) is a legal document that provides information about any encumbrances or legal claims on a property, such as mortgages, liens, or easements. The E.C. is issued by the relevant government authority and serves as proof of the property’s title status and any existing liabilities associated with it. Before purchasing a property, buyers should obtain the E.C. covering the period from 1987 to the present date to verify that the property is free from any legal encumbrances that may affect its ownership or use. Reviewing the E.C. helps buyers ensure that the property has a clear title and is free from any legal disputes or claims.
